Lord Abbett & CO. LLC Invests $23.70 Million in Electronic Arts Inc. (NASDAQ:EA)

Lord Abbett & CO. LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 162,000 shares of the game software company's stock, valued at approximately $23,701,000. Lord Abbett & CO. LLC owned approximately 0.06% of Electronic Arts at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EA. Capital International Investors raised its position in Electronic Arts by 5.2% during the fourth quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock valued at $1,778,553,000 after purchasing an additional 605,796 shares during the period. Geode Capital Management LLC raised its holdings in Electronic Arts by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company's stock valued at $978,650,000 after buying an additional 30,929 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Electronic Arts by 6.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company's stock worth $648,169,000 after buying an additional 270,991 shares during the last quarter. Invesco Ltd. increased its position in Electronic Arts by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,228,721 shares of the game software company's stock valued at $472,362,000 after acquiring an additional 120,632 shares during the last quarter. Finally, Amundi increased its position in Electronic Arts by 4.3% during the fourth quarter. Amundi now owns 2,990,729 shares of the game software company's stock valued at $431,315,000 after acquiring an additional 122,494 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.03, for a total transaction of $122,030.00. Following the transaction, the insider now owns 28,216 shares of the company's stock, valued at approximately $3,443,198.48. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $145.37, for a total value of $726,850.00. Following the completion of the sale, the chief executive officer now directly owns 27,615 shares of the company's stock, valued at approximately $4,014,392.55. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,000 shares of company stock valued at $3,032,740. Insiders own 0.22% of the company's stock.

Electronic Arts Trading Up 3.9 %

Electronic Arts stock traded up $5.60 during midday trading on Friday, reaching $150.70. 2,914,180 shares of the stock traded hands, compared to its average volume of 3,851,758. The firm has a market cap of $39.27 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $140.53 and a two-hundred day simple moving average of $144.53. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50.

Electronic Arts (NASDAQ:EA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. Research analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EA has been the topic of a number of recent analyst reports. Benchmark increased their target price on Electronic Arts from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, March 24th. DA Davidson began coverage on shares of Electronic Arts in a report on Wednesday, February 19th. They issued a "neutral" rating and a $140.00 target price for the company. StockNews.com downgraded Electronic Arts from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 5th. Ascendiant Capital Markets lifted their price objective on shares of Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets reduced their price target on shares of Electronic Arts from $145.00 to $142.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of "Hold" and a consensus target price of $154.22.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.